H.4.1 Factors Affecting Reserve Balances of Depository Institutions

z BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 (For Immediate Release) July 23, 1953 CONDITION OF THE FEDERAL RESERVE BANKS Member Bank Reserves and Related Items During the week ended July 22, Member bank reserves increased $3^5 million. The principal changes supplying reserves were an increase of $342 million in Reserve Bank credit and decreases of $112 million in Money in circulation, $101 million in Treasury deposits with Federal Reserve Banks, and $36 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $144 million in Other deposits with Federal Reserve Banks and a decrease of $98 million in Gold stock. The increase of $342 million in Reserve Bank credit resulted from increases of $321 million in Loans, discounts and advances and $21 million in Float. Change since Member Bank Reserves July 22, July 15, July 23, and Related Items 1953 1953 1952 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright 24,964 +2,388 -- Held under repurchase agreement - 150 — Loans, discounts and advances 524 +321 - 554 Float 777 + 21 94 Total 26,265 +342 +1,591 Gold stock 22,276 - 98 -1,074 Treasury currency outstanding 4,853 -- + 97 Money in circulation 30,051 -112 +1,167 Treasury cash holdings 1,267 + 3 8 Treasury deposits with F. R. Banks 539 -101 + 57 Foreign deposits with F. R. Banks 525 - 36 - 241 Other deposits with F. R. Banks 323 +144 + 73 Other F. R. accounts (net) 947 + 150 Member bank reserves 19,742 +345 584 Required reserves (estimated) 19,011 +755 864 Excess reserves (estimated) 731 -4l0 + 280 Daily averages for period-- Estimated excess reserves of member banks 709 -485 + 8l Member bank borrowings at F. R. Banks 382 +152 - 756 U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,403 million, an increase of $19 million for the week and an increase of $545 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 22, July 15, July 23, 1953 __ 1953 1952 A S S E TS Gold certificates 20,294,102 - 111,000 - 1,158,150 Redemption fund for F. R. notes 797,084 +_ 10,999 + 100,105 Total gold certificate reserves 21,091,186 - 100,001 - 1,058,045 Other cash" 339,455 + 9,169 10,657 Discounts and advances 520,981 + 321,346 - 552,115 Industrial loans 2,943 - 128 1,695 U. S. Government securities: Bought outright-- Bills 1,672,304 + 1,578,804 Certificates 4,995,716 - 6,782,500 Notes 13,773,671 + 8,205,598 Bonds >521475 - 613,848 Total bought outright 24,963,666 + 2,388,054 Held under repurchase agreement - 150,000 Total U. S. Government securities 24,963,666 + 2,238,054 Total loans and securities 25,487,590 + 321,218 + 1,684,244 Due from foreign hanks"" 23 F. R. notes of other banks 172,511 + 6,732 24,364 Uncollected cash items 3,860,793 - 384,316 + 282,728 Bank premises 49,941 + 89 + 4,263 Other assets 128,788 + 10,143 - 69,843 TOTAL ASSETS 51,130,287 - 136,966 + 808,326 — L I A B I L I T I ES Federal Reserve notes 25,792,685 - 93,692 + Deposits: Member bank--reserve accounts 19,742,254 + 345,367 583,788 U. S. Treasurer—general account 538,934 - 101,038 + 56,994 Foreign 524,606 - 35,932 - 241,193 Other 322,575 + 143,666 + 72,864 Total deposits 21,128,369 + 352,063 - 695,123 Deferred availability cash items 3,083,796 - 404,976 + 376,445 Other liabilities and accrued dividends 1?,181 , + 2,025 + 4,400 TOTAL LIABILITIES 50,024,031 - 144,580 + 728,950 C A P I T AL A C C O U N TS Capital paid in —— 260,578 + 68 + 14,463 Surplus (Section 7) 584,676 - — + 46,334 Surplus (Section 13b) 27,543 Other capital accounts 233,459 7,546 18,579 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,130,287 136,966 808,326 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.0# 2.6* Contingent liability on acceptances purchased for foreign correspondents 25,288 465 16,150 Industrial loan commitments 3,583 132 2,843 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 22, 1953 (Securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans securities Within 15 days 489,926 1,124 321,554 16 to 90 days 30,884 457 2,376,975 91 days to 1 year 171 942 13,023,616 Over 1 year to 5 years 420 6,452,264 Over 5 years to 10 years 1,374,400 Over 10 years 1,414,857 Total 520,981 2,943 24 963 666— Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 22, 1953 (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,294,102 657,662 6,515,909 1191,682 1469,435 715,643 629,983 4328,135 529,600 317,148 888,753 467,703 2582,449 Redemption fund for F. R. notes 797,084 64,540 108,065 60,087 84,855 78,482 61,318 125,127 50,560 25,993 40,250 31,306 66,501 Total gold certificate reserves 21,091,186 722,202 6,623,974 1251,769 1554,290 794,125 691,301 4453,262 580,160 343,141 929,003 499,009 2648,950 Other cash 339,455 26,906 60,277 21,495 23,120 17,022 29,702 73,894 18,900 5,774 12,188 11,800 38,377 Discounts and advances 520,981 15,230 23,758 26,683 32,975 33,273 33,779 157,366 9,521 7,238 37,297 44,201 99,660 Industrial loans 2,943 2,231 18 582 112 U. S. Govt, securities: Bought outright— Bills 1,672,304 116,016 371,142 104,751 162,436 118,982 102,812 247,414 88,468 52,084 66,407 79,244 162,548 Certificates 4,995,716 346,578 1,108,699 312,927 485,249 355,460 307,127 739,086 264,308 155,592 198,379 236,712 485,599 Notes 13,773,671 955,548 3,056,791 862,769 1337,878 980,038 846,778 2037,732 728,723 428,981 546,953 652,638 1338,842 Bonds 313,712 1,003,562 283,252 439,233 321,752 278,002 668,999 239,244 140,837 179,568 214,264 439,550 Total "OFT,'-c tr 1 r\ 1 -% nJi Held under repurchase agreement Total U. S. Government securities 24,963,666 1731,854 5,540,194 1563,699 2424,796 1776,232 1534,719 3693,231 1320,743 777,494 991,307 1182,858 2426,539 Total loans and " ' ; —— .. — °ecurltiee 25,487,590 1747,084 5,563,952 1592,613 2457,771 1809,523 1569,080 3850,597 1330,264 784,644 1028,604 1227,059 2526,199 =Due fro=m fore"ign b-anks1 23 l8l /7II S I2 2 I1 is <S 1 1 !3 1 -i I I 1 I I II * x 1 TomL 51,130,287 2808,150 13,053,903 3128,153 4398,662 2967,876 2576,588 9052,813 2115,835 1251,989 2194,300 1941,393 5640,625 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS ON JULY 22, 1953 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. L I A B I L I T I ES Federal Reserve notes 25,792,685 1596,053 5,677,087 1838,306 2406,422 1767,941 1365,232 4995,580 1171,661 636,260 1007,158 723,674 2607,291 Deposits: Member bank-reserve accts. 19,742,254 810,454 6,029,582 921,672 1518;568 810,358 877,900 3284,634 706,253 439,432 919,692 948,581 2475,128 U.S.Treasurer-general acct. 538,934 38,157 67,393 43,605 43,663 43,959 42,735 65,866 28,898 42,601 34,604 32,674 54,779 Foreign 524,606 31,690 1/158,341 38,963 47,794 25,975 22,338 71,171 19,741 12,988 19,741 23,377 52,487 Other 322,575 5,279 265,023 2,204 4,535 2,782 598 1,080 9,189 1,128 541 729 29,487 Total deposits 21,128,369 885,580 6,520,339 1006,444 1614,560 883,074 943,571 3422,751 764,081 496,149 974,578 1005,361 2611,881 Deferred avail, cash items 3,083,796 255,017 544,385 200,457 273,418 255,686 214,922 479,321 133,425 88,627 168,538 160,199 309,801 Other liabilities and accrued dividends 19,181 1,253 5,739 979 1,965 1,055 949 2,748 750 675 658 894 1,516 TOTAL LIABILITIES 50,024,031 2737,903 12,747,550 3046,186 4296,365 2907,756 2524,6748 900,400 2069,937 1221,711 2150,932 1890,128 5530,489 Capital paid in 260,578 14,236 81,412 17,837 24,766 11,285 10,987 33,380 8,969 5,822 9,941 13,152 28,791 Surplus (Section 7) 584,676 36,462 167,503 43,578 54,064 29,248 25,803 84,628 23,628 15,131 21,925 25,381 57,325 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts 233,459 16,538 50,119 16,063 22,461 16,238 14,362 32,976 12,780 8,252 10,365 11,425 21,880 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,130,287 2808,150 13,053,903 3128,153 4398,662 2967,876 2576,588 9052,813 2115,835 1251,989 2194,300 1941,393 5640,625 Contingent liability on acceptances purchased for foreign correspondents 25,288 1,539 2/ 7,496 1,893 2,322 1,262 1,085 3,457 959 631 959 1,136 2,549 Industrial loan commitments 3,583 1,824 749 52 4l 917 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,800,933 1656,471 5,913,268 1903,105 2483,974 1861,677 1444,299 5087,595 1224,071 652,493 1036,719 766,844 2770,417 Collateral for F.R. notes: 12,003,000 390,000 3,920,000 745,000 800,000 450,000 310,000 2800,000 280,000 145,000 280,000 183,000 1700,000 Gold certificates 9,060 7,000 36,936 87,700 Eligible paper 234,919 14,650 20,805 25,970 32,798 15,600'000 1300,000 2.100,000 1200,000 1700,000 1450,000 1200,000 2400,000 1025,000 525,000 800,000 600,000 1300,000 U. S. Govt, securities 27,837,919 1704,650 6,040,805 1970,970 2500,000 1932,798 1510,000 5200,000 1314,060 677,000 1116,936 783,000 3087,700 Total collateral 1/ After deductingi'3^6,548, GOO participation sof other Federal Reserve Banks. Digitized for FRASER 2/ After deducting $17,792, 000 participations G f other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis